collide in silicon valley and beyond, this is bloomberg technology with caroline hyde and ken ludlow. ♪ scarlet: i am scarlet fu in from caroline hyde a bloomberg's world headquarters in new york. alex: i'm in for ed ludlow in san francisco, this is bloomberg technology. coming up, we will hear from the ceo of tiktok as they sue montana following state decision to end the popular app, what steps are they taking to alleviate u.s. scrutiny?

plus, we will set them of the cfo of zoom as the company faces growth hurdles when it comes to enterprise customers. scarlet: and we will speak to executives from amazon and adobe to discuss product launches, generative ai in the state of the consumer. all that and more coming up. first, let's check the financial markets. it's another day of modest moves in u.s. equities because it's groundhog day when it comes to the big themes, debt ceiling talks, no agreement yet even though we are about nine days away from the june 1 x date when washington runs out of cash. president biden and kevin mccarthy, the speaker of the house are scheduled to speak and meet daily. of course, there is a big question of whether we will get a recession or not. the data showed today that business activity grew the most in a year. that's pointing to perhaps a soft landing. when you add it all up, we are looking at the yield moving up towards 4.4%.

the nasdaq 100 is down a quarter of 1%. it's still near its 13 month high. the euro is losing ground after data showed manufacturing in europe contracted the most in three years. i included the top broad market index in japan down by two thirds of 1% after chip-related names led the drop now that the country is tightening its export controls starting in late july. if you put everything into context, we know the rally in big tech has made the nasdaq 100 a star performer and you can see it's up 26% this year alone. that needs to be put into context because you go back to the end of 2021 and the start of 2022 and the blue line really playing catch-up with the broader market which is the white line. at the start of 2023 around here, fund managers were underweight tech because of

their big losses last year increase their exposure. then in march when the banking crisis began, small caps which is the yellow line broke apart from the broader market. investors found safety, they found a haven in big tech because of their dominant market share and free cash flow and robust balance sheets. alex: i'm looking at the biggest movers on the day today. zoom is sliding it and about sick -- about 7%. it really disappointed the street. their consumer customers, their business customers, growth there has plateaued in their big plan to grow sales with big enterprise customers might not happen as soon as the market expected. more on that later. next is alibaba down 1.5 percent. earlier losses. the company is cutting 7% of its staff in its cloud business.

this is a company that's planning to split itself up six ways. this would be one of the business units that they are planning on spinning off and taking public. we have a record high for broadcom, the third stock i'm watching. it has ticked up 2.5% today. it's an all-time high because this chipmaker has inked a multibillion-dollar deal for 5g radiofrequency for apple's iphone. let's go to our biggest rise on the day that would be yelp, flirting with 10% which is a six-month high. it's climbing and report that an activist has come knocking. tcs plans to deliver a letter to the yelp or urging the site to potentially sell it self or look into strategic options. investors seem to be down with that idea. it's not the first time yelp has seen an activist. back in 2019, the earth management to take -- to make

changes and they did and perhaps there is bullishness on attention for change. scarlet: great context there. around the globe, th qatar economic forum is underway. caroline hyde sat down with the ceo of tiktok and he spoke about how it's working with oracle to review its code in oversee u.s. user data any talked about the recent bill blending -- banning the platform in montana. >> we believe that the montana bill that was passed is simply unconstitutional. as you pointed out, we very recently felt that we saw the challenges in the court and we are confident we will prevail. separately, i've noticed that some of their creators of also filed a separate lawsuit challenging the same bill in the

courts. i want to say that they care because tiktok is really important to them. this is the part of the story i think is most important. now that we have more than 150 million americans on our platform on an active basis, more than one billion around the world, the people who use tiktok as the place for expression, it's a very different experience from the other apps available in the market. this is one for discovery, for expression, free expression and a lot of our users use tiktok to find their communities, discover and express themselves. moreover, there are 5 million small businesses in the united states that depend on tiktok. and millions more around the world including of this country and the region. ultimately, it is about providing value to these users and making sure that we continue

to provide them a great service that benefits them and their dachshund that is their key focus. caroline: was it hard to express yourself most recently when you are in congress having to try to tell your story of why tiktok is important to the united states? >> i think it was an important process. i'm very grateful for the opportunity to show up and to tell our side of the story. caroline: did you tell your side of the story? >> throughout the five hours, i believe i had time to do that. i think it's a good opportunity for us to ask plane ourselves. there are some misconceptions about our company out there. caroline: the key issue that many would have is data. and there is concern and anxiety that ultimately the chinese government can have access to u.s. user data. that is why montana wants to ban

tiktok. what do you wish you could have said to make clear that that was not going to happen. i felt as if you didn't managed to prove that point. >> tiktok is not available on mainland china today. the chinese government is never asked us for u.s. user data. we will not provided even if asked. beyond that, we have built over the last two years, something we call internal project texas and its to ensure that american data is stored on american soil by an american company and overseen by american personnel. this is truly an unprecedented project that none of the other companies in our industry have ever attempted. we believe we have taken steps above and beyond what our industry has done to protect the safety of u.s. user data which is important. caroline: where are you with

project texas? you've come out and said very soon oracle will have unprecedented access to our data or indeed, to the ways in which your source code works but that's not now. when will oracle be able to enact this unprecedented overseeing and transparency of your company? >> project texas is a complicated project. a lot of the elements of the project is in place and operational. for example, today, by default, all u.s. data is stored in the oracle cloud service. it's no longer in our own service in virginia. caroline: you've already done the transfer? >> it's already been done. separately, oracle has begun the review of the code. as you may understand, it's a project that would take time for us to finish the details. it's on track. oracle and ourselves are working together with the u.s.

government to finalize project texas. alex: caroline is standing by. what was your big take away from your conversation? caroline: i was pressing him on your reporting because it was your story that really instigated this story as to whether the oracle deal was really in place. he did try to push back that's on track as you heard in the fact that they moved that data from their servers to oracle. the take away for me was this is coming at a moment where meta- where he was an intern is also being find a record amount by the eu regulators because the u.s. may be able to access eu data. they are worried ultimately of it exactly what the u.s. is worried about china. this is a global issue that's ongoing and that's why they haven't just got project texas but project clover in europe how

they can protect user data. this feels like a moment of deglobalization at another level when it comes to technology and his key point was how can we do this, how can we ensure we have data sovereignty without ultimately breaking the internet and without breaking his business. he really didn't seem to say that they have a plan b if they get bent. he feels they are here to stay when it comes to the united states presence for tiktok. scarlet: you did a great job in pushing him on whether he actually got the chance to tell his story. now that you are in qatar who else were you talking with? caroline: globalization issue, the worry about investment in china is ringing throughout. i was speaking with peterche whon content.

he now owns the production company behind love is blind and ran fox for 14 years. we were talking about how he is trying to be more globalized and trying to buy production and content in mexico and turkey to ensure that the streaming companies that have become more powerful, he thinks cable is dust, they would be able to have natural language, new language and access the emerging markets. ai has been front and center and i spoke to the ceo of tiktok about artificial intelligence and large language models but he didn't say whether they are already creating one for tiktok but he thinks it will galvanize video production. i also spoke with the first african-american woman to run a fortune 500 company. she ran a tech company but is now the chair of taneo and a private investor.

she is really excited by the opportunities in ai and thinks it can be a real force for productivity but also worried about the rate -- regulatory environment. >> this is a technology that's developing. we know if we just leave it to everyone we leave it to, there will be a huge amount of have-nots and a small amount of haves. we should have a community working together, technical community, government communities, education, on this unbelievable gift that we have in trying to figure out a way to make it good for all. caroline: the haves and have-nots is something that is core to her. she's got a key focus on diversity at the board level and we got a key focus on ai and how maybe that amplifies the system so this is where -- what she is looking at but that seems to be on a positive side.

scarlet: great reporting, caroline hyde at the qatar economic forum and she will be back in new york later this week. we will continue with bloomberg technology because coming up, zoom post first-quarter earnings and says it will jump on the ai bandwagon. the zoom cfo will join us to break it down. taking a look at zoom shares after the company posted mixed results following yesterday's market close, it boosted revenue guidance for the full year but the stock is up by more than a percent of the moment. we got more on that next, this is bloomberg. ♪

alex: moving on to zoom which released its first-quarter earnings yesterday, sending shares down after posting mixed results. let's bring in the cfo of zoom for more. when i look at the market reaction today, it seems like folks are reading into the guidance that there is some pressure on the important enterprise business for you. what seems to be putting a dent in the core selling into enterprise customers? >> nice to see you. we were really pleased with our results we announced last night. we exceeded both the high end of our revenue guidance as well as our profitability metrics and we were able to raise our outlook for the full year on both the top and bottom line. some of the key highlights of the quarter was we saw stabilization in our online business earlier than we expected this year as well as

peak gross margins at 80.5% and a resume phone -- our zoom phone cross the 10% of revenue threshold. we talked about the fact that we had a reduction as well as a restructuring in our direct sales organization. while we saw some traction in the s&p portion of that team, it will take a little bit longer for the rest of the organization as expected when you have a significant transition to return to full productivity. all of that is reflected in our guidance and what you are referring to. alex: during the pandemic, zoom had a growth moment, i think the market looked at you as a growth stock under those conditions. as you talk about the online consumer piece of your business, and some of the pressure through the sales work on your enterprise business, do you look for growth elsewhere like an acquisition or something you would consider to juice the top

liner find growth out of those business units? >> we have really been investing in innovating across the platform. we are so excited when you look forward to not only the phone but also zoom contact center that was released last year. we announced in march a new beta feeder around soon iq which is levering ai to be a smart companion and do things like chat or email composition and do meeting summaries or even think about summarizing a long chat thread that maybe you missed earlier in the day. we have also announced an acquisition which will bring front and center, a collaborative employee data hub that leverages both the social as well as the internet. we have an amazing platform that has continued to grow and that is what we are looking forward to drive the future growth of the company. alex: just a follow-up on,

scarlet: it looks like you've made two acquisitions this year. last year, six acquisitions in the biggest was $125 million. perhaps investors are looking for a bigger, transformative purchase. how do think about that? >> we always watch what's available in the market. as you indicated, we've done two deals this year which helps us accelerate the development of parts of her platform. there are three criteria but look for, technology with a high bar and we look for culture is want to make sure it will be a great addition to our team and then we look to valuation which given what's happening in the market has become more attractive over time. we want to make sure that any acquisition we would do would benefit our customers and that's what we look for. how would transform the customer experience and we keep watching for those opportunities? scarlet: i have to ask about the competition because we hear more

about companies consolidating their software onto microsoft teams, does this concern you and do you counter that? >> microsoft is a great partner to us. we always think about things through the customer's viewpoint. we work with their customers to help them leverage whatever product they want. sometimes they want to use the contact center in meetings and couple that with potentially another microsoft product so we have sequence immigrate -- integration with them. one of the ways i measure the strength of our business is through renewals. q1 is our largest renewal period going back to the early stages of the pandemic. we saw a strong renewal in q1. there is very little logo trim which tells me customers might be rightsizing but they are sticking with zoom. scarlet: really appreciate you joining us. she is the cfo of zoom, thank you so much. alex: coming up, we are watching

shares of apple and broadcom after they sign a multibillion-dollar deal, more details next. scarlet: this is bloomberg. ♪ - [mo] if you're thinking about going back to school, this is for you. ♪ - i ended up spending less money my entire time at snhu than i did in just one year at my other university. - [juan] my time at snhu has given me more confidence. now i can go for that promotion. - if you're ready to go back to school... you can do it. southern new hampshire university has changed my life. and it can change yours too. ♪ - [announcer] visit snhu.edu. bigger legs on a turkey!o gn rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989!

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scarlet: jay powell, the chairman of federal reserve, has arrived on capitol hill to meet with house democrats. this was a long planned meeting and according to the organization, it is nothing to do with the debt limit discussions. jay powell is on capitol hill and we will keep you posted if there any develop instead of that meeting. that's a back to the tech sector because we look at apple and it has just signed a multi-billion-dollar deal with broadcom to develop 5g radiofrequency components. the stock is lower on the day and broadcom is moving up 2.5%. let's get more perspective on

this. what's interesting is that apple has a relationship with broadcom. it is one of their biggest customers but they have a contentious relationship. what does this deal do when it comes to that contentious relationship? >> when you look at apple, this is more diversified away from qualcomm. four apple's case, it needs to diversified naches from one market which is asia but broaden its partnership network. they want to source parts across the world. alex: i have to think about apples big push to bring in homegrown chips and ask the question -- does this mean these radiofrequency chips for 5g, that apple is considering bringing in house for the creation. does that mean maybe the effort by apple is not necessarily going as well as they had initially thought? >> apple is never going to do

these things just for cost alone. they will go for the best part that's out there. at the same time, not for a cost reason but performance, it is designing all sorts of parts so the next generation of phones or device coming up can achieve what it wants to achieve. sometimes the partners cannot provide that. i cannot say whether the in-house efforts are not going as planned. as i said, it's just a planned way of looking at things and saying i don't want to be dependent on one supplier for all my needs. i want to go across the board. alex: thank you so much for breaking that down. coming up, we will speak to the amazon device executive on the launch of its first tablet in decade and keeping an eye on the shares of the company. you can see they are ticking up

on the day so maybe some excitement there. 1.3% amazon is up and we will get to that after the break. this is bloomberg. ♪ we moved out of the city so our little sophie could appreciate nature. but then he got us t-mobile home internet. i was just trying to improve our signal,

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scarlet: welcome back to bloomberg technology. alex: and i'm in san francisco. scarlet: 3.5 hours to go before the market close in new york so let's check what's going on debt ceiling debate talks are ongoing still weighing on the market with the s&p 500 losing one third of 1% led by tech companies. oil prices are moving higher. wti is up by 1.8% after the saudi energy minister issued a warning to short-sellers to watch out. because of the rising oil

prices, we are looking atxle that tracks big cap energy names moving up by 2%. a couple of individual company names to highlight because we are at the tail end of the u.s. earnings season when retailers report on the results. we are seeing lows moving up by 2.4% even though it cut its full your outlook saying it seizes slowing in home-improvement. it's reporting gains among professional contractors. in some ways, doing better in its larger rival home depot which last week said the same thing. it's lowering its full-year forecast because broad-based spending cutbacks by can said -- by its customers in home depot and lowe's up by at least 2% on the day. alex: 10 years after the first tablet, amazon is seeing its newest and what the company's calling its biggest and most powerful tablet yet. joining us is david limp, senior

vice president. you guys have been pretty strong in the lower price point market for tablets and this has up higher price point and feels more premium. who are you trying to capture with his latest tablet? >> we have really found the place with our tablet products. we build premium tablets but it non-premium prices. as customers have demanded more from tablets, the increasingly said they want larger screens. we had tenants range for a while but bringing out the 11 inch now, it's a big difference for us because we went to an all aluminum design that's thinner. it's a great opportunity for customers to have a larger tablet that can be used for productivity as well as entertainment. also be able to do it at an affordable price, it's only $229. scarlet: this seems to be geared to productivity for workers but

a lot of your products have a kids version. how do you think about incorporating and building out generative ai and llm when it comes to serving kids because there is a privacy factor that is critical to retaining and building and preserving the trust with your customer base. >> we've had a version of our kids products for a long time. we have it for kindle and are tablets and echos and rtv's. we really try to build a sandbox that the parents can ensure they feel safe putting their kids in that environment. on error tablets, all the apps available for kids plus don't have any embedded advertising. the same thing is true with alexa and generative eight. ai has to be aware of the age group it is talking to. if a child that is six years old

asked where the babies come from, it will give a more parent friendly answer than if an adult asked that question. alex: chatbots are having their moment and generative ai seems to be the phrase that we can't stop talking about. chatbots have been around for a minute. what do you think about all the calls for regulation around generative ai and chatbots? you have been in this business and i think i remember amazon asking for regulation around facial recognition software. what is your take on ai these days? >> i think there is a wide spectrum of what ai can deliver. when you start talking about the generative ai techniques and assistance in things like that, i think there is room for regulation. we think we want that to happen. there are other sides that are just not as risky.

think about things like fraud detection. you probably want to have less regulation so you can keep the speed of invention happening and protect consumers with those techniques. in the long run, for the more complicated used scenarios, we think regulation is needed and will get supporters. scarlet: let's go back to products fix am glad that alex brought up alexa. when you talk about generative ai, can you give us a sense of what capabilities will be through the door as you try to upgrade alexa and make it more prevalent in people's lives? what are you doing to make alexa smarter? >> we hit a big milestone and of now sold over half a billion alexa enabled devices. last week, we announce the echo pop. my daughter said it was adorable so i'm proud of the team's ability to do that. with over half a billion endpoints, we have a great access to customers and we are using generative ai techniques

to improve it every day. on the back end, we have a larger language model that takes multiple pieces of information from various parts of the web in our own repositories and comes up with a concise answer. if a child asked a homers question or parent asks a question, we give a debtor answer than we did just weeks ago. this is because of the power of these large language models. you will see us roll out even more and alexa will get more proactive and conversational. alex: i have to ask about astro, the adorable home robot. will everyone be able to get their hands on it? >> we continue to make progress on astro. we ship a lot of them every week now. we have ramped up manufacturing but there are still a few areas we are working on in terms of navigation. it seems like it's a pretty trackable problem right now. i would anticipate it to go into wide release over the course of

the not-too-distant future. customers are loving the product. we have over 300,000 people requesting bites inner shipping lots every week and customers -- if there were a spectrum of products in your phone was on one end and a pet was on the other, astro is closer to the pet end of the spectrum scarlet: scarlet: than the iphone. really appreciate it, talking products. we talked about astro and the echo and the new fire tablet as well. coming up, generative ai and the cloud can we will speak with the adobe president of business for its new feature of business for photoshop. let's take a look at how adobe shares are performing now. little changed on the day, off marginally. this is bloomberg. ♪

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alex: it's time for talking tech. yelp shares are on track to rise most since august. an activist investor has called for the company to look into a sale and other strategic options. tcs capital management tends to deliver a letter to their board to make the case for a sale. they say the firm could fetch more than a -- then double's share price. the alibaba clad division has begun a rent of job cuts that reduced staff by 7%. it's part of its overhaul of the business and preparing the once fast-growing unit or a spinoff and eventual ipo. china's largest cloud service has begun informing staff of layoffs and is offering severance to employees or transfers to other parts of the

alibaba empire. apple is clashing with the european union over a 14 billion dollar tax deal. they are heading back at the antitrust law say they make legal errors when they concluded apple was given vast amounts of unfair tax eight from ireland and issued an order to repay that money. scarlet: let's talk about adobe. it is taking his generative ai models to the next level by integrating the generative fill tool into photoshop. users will now have a creative copilot to help with precision and speed of production when the use photoshop. we are joined by the adobe president of digital media business. good to speak with you. let's start with the generative fill tool and if you can tell us how in practice that would work and how it meaningfully changes the end product and create demand for new uses of the software. >> thank you for having me on. this is a big day for adobe with

the introduction of generative technology going into photoshop for the first time. we lost firefly which is evercore generative capabilities seven weeks ago as a standalone capability so people could create images and create text effects. today, the massive step forward for us in the industries that we have taken that and we have natively integrated it into our creative cloud application starting with photoshop first. now someone working in photoshop can start to affect the images and save hours of work simply by using text to help generate and fill information around it. we do that in a way that leverages all of the altering capabilities including its layers of the work enables more iteration and exploration and more productivity because of the way people are able to use it in their existing workforce. scarlet: adobe is all about serving the creative community and adobe and night -- ignited

from potentially trading ai files. what did you learn from that episode? >> communication is key. we have never trained on user files that are part of creative cloud. we've been incredibly trans boarded through -- transparent through this process. everything we used to trainer models, we have absolute right to use it. and we have the complete origin of that context. we been transparent with everyone. we've also been able to announce that because we know where the content is coming from, principally adobe stock, we are also going to be compensating the contributors for the benefits that we get in the industry gets from the content. we are excited how this can be positive for creators.

alex: i think that incident is a good example of how sensitive folks are approaching the use of ai in creation of assets. when i think about the impact outside of adobe of what your customers are using your products for, i have to ask this question -- when i come to ai misinformation and tools agreeing that misinformation, where is the role of folks like yourselves and making sure that we don't have ai generated misinformation in the world. how was it toby -- how is adobe thinking about this getting into the hands of people at large? >> in the tech industry, we all need to take a lenient position on working with governments and regulators to address this issue. our position in working with the white and capitol hill and at been involved with eu and their ai bill of rights, we believe

that the right approach year is to do something called content credentials. it is a do trish and label for every piece of content you see online. we make sure anything that flows through air products, whether is the ai generated capabilities of firefly whether it's evercore flagship applications like photoshop have the provenance or origin of that content so when someone sees it, ultimately on a website, they can look at it and say what was this and how was it generated? they can use their own judgment about whether this is content they want to depend on or content they don't trust. alex: i spent a lot of time in the social media space with creators and advertisers. they are looking at things like some of your competitors. there is a slew of new startups pushing in and seemingly trying to take some of adobe's traditional creation. how are you facing competition from these younger players who

are perhaps not providing the provenance of your used to. >> the adobe core business overall continues to grow. as you saw in our last earnings call, we had a great quarter and beat and then raise our guidance for the year. the core machinery continues to grow in terms of what we are doing for creative professionals but also this massive and growing population of creativity for all. everyone that's part of the creator economy, the younger generation and students looking to add more content that stands up, stands out, we are benefiting from all that. we think innovation is key in the way that works is having a set of products from firefly which you can use just for fun and enjoy yourself to adobe express which is perfect for knowledge workers and a creator economy all the way to photoshop and enable everyone to create along that continuing and enable them to work together. we feel good about this and the

user satisfaction. scarlet: f you leadigma not so long ago but the u.s. is creating a lawsuit to block it. your ceo has said earlier to convince authorities is not anticompetitive. how is that going? >> we are cooperating and sharing all the information we have with the regulators around the world. our core belief continues to be that the substance of the case is that this is an adjacency that's good for the industry and good for consumers. we see a lot of potential benefits and we are confident in the case may have to let the process play out. alex: president of digital media for adobe, thank you. more next, this is bloomberg. ♪ what do you see on the horizon? uncertainty? or opportunity. whatever you see,

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>> tiktok is not available in mainland china today. the chinese government has never asked us for u.s. user data and we will not provided even if asked. alex: that was the tiktok ceo speaking during a bloomberg interview at the qatar economic forum. let's talk about more tech.

when i think about the dialogue between the u.s. and china, it has verge from tension to techno-nationalism. at the end of the day, i the big question as to when will we see some kind of regulation happen that protects the u.s. if that's what lawmakers want? >> on ai, federal policymakers and state policymakers are working that out now. we work closely with them and our member companies to make sure they understand that the technology can be rolled out in a safe and responsible way. we saw an instance yesterday that was unfortunate. we want to avoid that anytime going forward. i think twitter learn from that incident and we should say for going forward. all the companies i work with and federal policymakers understand the potential of ai

especially in the medical realm. we don't want to not take advantage of that. you can help solve a lot of issues and problems we face. it will take some time for lawmakers foot regulations in place. we should see that in the coming year. alex: congress has been reactive when it comes to regulation. in social media, we've seen whistleblower after executive touted down to capitol hill big concerns but no actual regulation. do we need a big moment, big scary moment for that kind of fact-finding mode to edit actual regulation to take place? >> policymakers of the federal level are being very wise in that they don't know all they need to know about the technology. i think they take that seriously and we seen a huge uptick in hearings and people appearing in congress. sam altman recently and others we will meet with like chuck

schumer and other committee members and the white house agencies are putting forward their own taskforces. i hope it's not a big scary moment that causes everyone to clamp on this. all of our american technology companies are very focused on safe, responsible rollout of artificial intelligence. it's already being used well in many instances we want to increase that activity and apply to different great applications and policymakers are wisely trying to understand what they don't right now about how it can be used well. scarlet: we certainly need the right policies in place. sometimes it's difficult to identify the right policies are what's an example of the wrong policy when it comes to potentially regulating ai? >> in some instances, if you saw it complete clampdown that there will be no use of ai at all and

we will be looking for companies to prosecute. that's an extreme situation. i don't see that happening. policymakers very much understand the wonderful potential of ai, how is being used right now to increase output. the moderna vaccine for covid, that was found so rapidly because ai can find so many tests and solutions to a problem. there are wonderful applications of this technology and policymakers are wisely understanding that and want to take it slow and make sure they understand all the things they don't know good and bad for how it can be used. american technology companies take that very seriously. you seen all kinds of framework put out especially by google and microsoft that lays out the responsible and safe use of artificial intelligence. i think that's the right way to go. scarlet: there is a lot of talk

of perhaps putting together a federal data privacy law that will protect the data of consumers and businesses get people some certainty. how is europe a model for what to do and what not to do? >> there are many good things to learn from the european model. they made sure there was one national standard for the continent. we have nine states that have already enacted their own privacy laws. california was the first but eight others have followed. we had 28 states this year that introduced 56 different privacy laws. technet is very involved in a daily basis to come up with one national standard. we want one national privacy law that will give all businesses in america the rules of the road they need to adhere to. also some consumers another data is protected and they know exactly what to expect. scarlet: thank you so much. that does it for this edition of

bloomberg technology. alex: check out the bloomberg technology podcast on the terminal, online and apple. this is bloomberg. ♪ we moved out of the city so our little sophie could appreciate nature. but then he got us t-mobile home internet. i was just trying to improve our signal, so some of the trees had to go. i might've taken it a step too far. (chainsaw revs) (tree crashes) (chainsaw continues) (daughter screams)

let's pretend for a second that you didn't let down your entire family. what would that reality look like? well i guess i would've gotten us xfinity... and we'd have a better view. do you need mulch? what, we have a ton of mulch.

kriti: welcome to blurb or kayley: -- welcome to bloomberg crypto. coming up, the chill of the crypto winter hangover and the digital assets are saying they are here today even as washington continues to draw battle lines overregulation. katie: kaitlyn long is one of